Victrex maintains its 2016 interim dividend

DividendMax Ltd.

Victrex maintains its 2016 interim dividend


• Robust core business offset by Consumer Electronics and Oil & Gas

- Q2 core volumes (ex-Consumer Electronics) >900 tonnes, in line with record Q2 2015

- Automotive & Aerospace in growth, Medical solid

- H1 performance offset by Electronics (down 42%) and Oil & Gas softness (down 28%)

- Gross margin reflects annualised new plant costs 

• Strong progress developing the pipeline; early stage commercialisation

- Kleiss acquisition brings Gears closer to commercialisation; major OEM prototype orders 

- Magma Oil & Gas mega-programme on track for meaningful revenue in FY16

- Aerospace composites progressing towards qualification

- New polymer grades being developed for multiple markets

- Further progress in PEEK-Optima® HA-Enhanced; regulatory submissions doubled

• Downstream manufacturing investments in progress

- PEEK/composite tape line underpins Aerospace, Medical and Magma mega-programmes

- New Trauma facility currently being commissioned

- Construction commenced for Polymer Innovation Centre; supports new Victrex-led 3D printing consortium

• Cash generation remains strong

- Net cash up 7% to £45.3m

- Interim dividend of 11.73p (H1 15: 11.73p)

Companies mentioned